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Reversed course. By the end of the day, amazon, facebook, alphabet, apple, and netflix all lost 3 or more. In the end, it was a tale of two markets. The Dow Jones Industrial average closed at a record, up 89 points to 21,271. The nasdaq lost 113 points. And the s p was off two. Bob pisani takes a look at the hit the tech stocks took. Reporter finally we got a little volatility as some traders came forward to begin to question the valuation of some of these big tech names. Facebook and amazon and apple and microsoft and alphabet were down about 3 to 5 today. Goldman sachs, in a note this morning, made a very simple but important point. These big tech names are traditionally cyclical growth stocks. In other words, theyre volatile. But everyone has been acting like theyre boring consumer staple stocks, usually not volatile, and everybody bought them aggressively assuming they would go up with no risk at all. They warned the sto ....
Roadmap begins with the market and chase for 20k. Plus the Auto Industry remains in the cross hairs. Well get Sales Numbers today following teslas numbers last night. And another trump tweet, this one about ford. And some fresh scrutiny for the president elect ceo cabinet. Tillersons pay package with comm exxon. First up, stocks end up with more gains with a best day in more than three weeks including tuesdays triple digit increase for the dow. The watch is on for the 2 00 p. M. Eastern release for the minutes from the feds december meeting which might disclose some clues about policymakers views about inflation, strong data and the president elect as well, jim. There was a time when i feared those minutes. They come out at 2 00, Steve Liesman come on, start thinking, wow, oh my, so worried they may have to raise rates. I h ....
The nasdaq down by about 12. Because of tomorrows holiday, you do have the Labor Department coming out, releasing its weekly jobless claims numbers today. We get them a day early instead of a day late. Also today well be getting Weekly Mortgage rates. And freddie mac will report on the Weekly Mortgage rate averages as well. Lets talk about the top Global Market story this morning. It is greeces International Lenders, which did not reach a deal, and now they wont be releasing that next bailout payment. Nearly 12 hours of talks failed to reach a consensus. The imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. Hostess brands will proc ....
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